Malibu Boats (NASDAQ:MBUU) Upgraded to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Malibu Boats from “hold” to “buy,” though the broader analyst consensus remains “Hold,” with two Buy, five Hold and one Sell rating and an average price target of $30.
• Malibu Boats reported a quarterly earnings beat, posting $0.92 in EPS versus $0.78 expected and $295.54 million in revenue versus $263.89 million expected; revenue increased 42.8% year over year.
• The stock was trading at $22.03, down 2.8%, near its 52-week low of $21.16. Institutional investors and hedge funds own approximately 91.35% of the company.

Malibu Boats (NASDAQ:MBUU - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other equities research analysts also recently weighed in on the stock. Raymond James Financial reissued a "market perform" rating on shares of Malibu Boats in a report on Monday, August 31st. Zacks Research cut shares of Malibu Boats from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 9th. Truist Financial dropped their price target on shares of Malibu Boats from $34.00 to $26.00 and set a "hold" rating on the stock in a research note on Friday. Benchmark reiterated a "buy" rating on shares of Malibu Boats in a research note on Friday, August 28th. Finally, Weiss Ratings upgraded shares of Malibu Boats from a "sell (e+)" rating to a "sell (d)" rating in a research note on Thursday, August 27th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Malibu Boats currently has an average rating of "Hold" and an average target price of $30.00.

Malibu Boats Trading Down 2.8%

Malibu Boats stock opened at $22.03 on Friday. Malibu Boats has a 52 week low of $21.16 and a 52 week high of $34.97. The stock has a 50-day moving average price of $24.76 and a 200 day moving average price of $26.27. The stock has a market cap of $433.55 million, a PE ratio of 314.71 and a beta of 1.19. The company has a current ratio of 1.43, a quick ratio of 0.60 and a debt-to-equity ratio of 0.31.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last announced its quarterly earnings results on Thursday, August 27th. The company reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.78 by $0.14. Malibu Boats had a net margin of 0.18% and a return on equity of 4.78%. The company had revenue of $295.54 million for the quarter, compared to analyst estimates of $263.89 million. During the same quarter last year, the business earned $0.42 EPS. Malibu Boats's revenue for the quarter was up 42.8% on a year-over-year basis. Equities research analysts predict that Malibu Boats will post 2.18 earnings per share for the current fiscal year.

Institutional Trading of Malibu Boats

Several large investors have recently made changes to their positions in the company. Fort Washington Investment Advisors Inc. OH increased its holdings in Malibu Boats by 10.6% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 865,239 shares of the company's stock worth $19,831,000 after purchasing an additional 82,777 shares in the last quarter. Central Pacific Bank Trust Division increased its position in shares of Malibu Boats by 11.9% in the third quarter. Central Pacific Bank Trust Division now owns 5,934 shares of the company's stock worth $136,000 after purchasing an additional 630 shares during the last quarter. WINTON GROUP Ltd bought a new stake in Malibu Boats in the second quarter worth $206,000. Engineers Gate Manager LP purchased a new stake in Malibu Boats in the 2nd quarter worth approximately $1,033,000. Finally, Squarepoint Ops LLC purchased a new position in Malibu Boats during the 2nd quarter valued at about $316,000. Institutional investors and hedge funds own 91.35% of the company's stock.

About Malibu Boats

Malibu Boats, Inc is a recreational powerboat manufacturer headquartered in Loudon, Tennessee. The company designs, manufactures and sells boats for watersports, boating and fishing activities, serving consumers through a network of independent dealers in the United States and international markets.

Its portfolio includes Malibu and Axis wake and watersports boats, as well as a range of saltwater and freshwater fishing and offshore boats sold under brands including Pursuit, Maverick, Cobia, Pathfinder and Hewes.

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